What is the R40,000 annual exclusion?

Every individual gets an annual capital gains exclusion of R40,000 per tax year. The first R40,000 of your combined net capital gains is excluded before the 40% inclusion rate is applied. If your total gains for the year are below R40,000, no CGT is due. This calculator lets you apply it or switch it off if you have already used it on other disposals.

What marginal tax rate should I use?

Use the marginal rate that applies to your taxable income, from 18% in the lowest bracket up to 45% in the highest. Your capital gain is added on top of your other income, so a large gain can push part of it into a higher bracket. The calculator uses a single rate for a quick estimate, so treat the result as indicative.

Does my broker withhold CGT for me?

No. South African brokers do not withhold capital gains tax at source. You declare disposals on your annual SARS tax return and CGT is assessed there. Local dividends are separately subject to a 20% Dividends Withholding Tax, and some foreign markets withhold tax on dividends at source, which is separate from CGT. Keep your contract notes and a full CSV export of your trades.

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Capital Gains Tax Calculator 2026

Enter your purchase and sale amounts to work out your South African CGT. We apply the R40,000 annual exclusion, the 40% inclusion rate and your marginal income-tax rate (SARS), for shares, ETFs and crypto.

Total purchase price (R)

Total sale price (R)

Your marginal income-tax rate

Apply the R40,000 annual CGT exclusion

Guidance for information only. It applies South Africa's individual CGT treatment (R40,000 annual exclusion, 40% inclusion rate, taxed at the marginal rate you select) to the gain you enter. It uses a single marginal rate and does not model your full taxable income, other disposals, or the trader-versus-investor distinction for crypto. Not a substitute for advice from a registered SARS tax practitioner. Rules can change.

The principle: how CGT works in South Africa

In South Africa, the profit you make selling shares, ETFs or crypto held as an investment is subject to Capital Gains Tax, administered by SARS (the South African Revenue Service). You are not taxed on the whole gain: you first deduct the annual exclusion of R40,000, then 40% of the remaining net gain is included in your taxable income and taxed at your marginal rate (up to 45%). That gives an effective maximum CGT rate of about 18%. Financial services in South Africa are regulated by the FSCA (Financial Sector Conduct Authority) under the FAIS Act.

A worked example

Say you buy a share portfolio for R20,000 and sell it for R32,000. Your capital gain is R12,000. Because that is below the R40,000 annual exclusion, no CGT is due this year (assuming you have not used the exclusion elsewhere). If instead your gain were R100,000, you would deduct R40,000 to leave R60,000, include 40% of that (R24,000) in your taxable income, and pay tax on it at your marginal rate. At a 39% marginal rate that is R9,360 of CGT, an effective rate of about 9.4% on the R100,000 gain.

Investor or trader? It changes the tax

The CGT treatment above applies when you hold assets as a long-term investor. If SARS regards you as an active or frequent trader, your profits can be taxed as ordinary income (the full amount at your marginal rate), not as a capital gain. This matters most for crypto and for anyone trading in and out of positions regularly. There is no single test, so if you trade often, take advice on which treatment applies to you.

Dividends, interest and the TFSA

CGT is only one part of the picture. Local dividends are subject to a 20% Dividends Withholding Tax, and there is an annual interest exemption. A Tax-Free Savings Account (TFSA) lets you invest up to R36,000 per year (R500,000 over your lifetime) with no tax on the returns, including no CGT, which is worth using before a taxable account for long-term holdings. Foreign shares can also face dividend withholding tax at source, separate from South African CGT.

Keep your records

Keep your contract notes, statements and transaction history: you declare disposals on your annual SARS return, and you need the base cost and proceeds for each. Most brokers and exchanges let you export a full CSV of your trades, which makes the calculation and any SARS query far simpler.

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Frequently asked questions

How is capital gains tax calculated on shares or crypto in South Africa?: For an individual, SARS does not tax the whole gain. You first deduct the annual exclusion (R40,000 of gains per tax year), then 40% of the remaining net gain is included in your taxable income and taxed at your marginal income-tax rate. Because the top marginal rate is 45%, the effective maximum CGT rate is about 18%.
What is the R40,000 annual exclusion?: Every individual gets an annual capital gains exclusion of R40,000 per tax year. The first R40,000 of your combined net capital gains is excluded before the 40% inclusion rate is applied. If your total gains for the year are below R40,000, no CGT is due. This calculator lets you apply it or switch it off if you have already used it on other disposals.
Is crypto taxed the same way as shares in South Africa?: It depends on how you use it. If you hold crypto as a long-term investment, disposals are usually subject to CGT like shares. If SARS considers you an active or frequent trader, your profits can be taxed as ordinary income (100% included at your marginal rate) rather than as a capital gain. If you trade often, get advice on which treatment applies to you.
What marginal tax rate should I use?: Use the marginal rate that applies to your taxable income, from 18% in the lowest bracket up to 45% in the highest. Your capital gain is added on top of your other income, so a large gain can push part of it into a higher bracket. The calculator uses a single rate for a quick estimate, so treat the result as indicative.
Does my broker withhold CGT for me?: No. South African brokers do not withhold capital gains tax at source. You declare disposals on your annual SARS tax return and CGT is assessed there. Local dividends are separately subject to a 20% Dividends Withholding Tax, and some foreign markets withhold tax on dividends at source, which is separate from CGT. Keep your contract notes and a full CSV export of your trades.